Cons Properties
Buildings we want to own in twenty years.
Cons Properties is the family's standing real estate platform. It was founded in the early 1990s by Michael and Ronnie Cons — two Montrealers whose first business was the food industry — and has been built one building at a time since.[1] The platform began as a temperature-controlled, Class A industrial book — purpose-built around the family's operating knowledge of cold-chain and food logistics — before expanding into residential and commercial development.[1]
Today the rental book trades under the JOIA brand — "condos locatifs" — and concentrates in Montréal, Saint-Laurent, Laval and Saint-Hyacinthe.[1]
Corporate structure
The parent operating entity is Cons Properties Inc. · Les Propriétés Cons Inc., a federal corporation headquartered at 9999 Cavendish Blvd, Suite 210 in Saint-Laurent.[2] Property management runs through a dedicated entity, Cons Properties Management Inc. · Gestion Propriétés Cons Inc., at the same address.[3]
Individual buildings are typically held in numbered single-asset corporations — for example Cons Properties 11 Inc., Cons Properties 13 Inc., Cons Properties 14 Inc. — each registered federally with Corporations Canada.[4][5] The structure isolates each asset and keeps financing clean at the building level.
The JOIA platform
JOIA is the public-facing brand for the residential and commercial rental book. The platform operates active properties including JOIA Cavendish (Saint-Laurent — ten office condos, 1,212–13,500 sq ft), JOIA Martial (Montréal — twenty residential condos, 320–740 sq ft) and JOIA Maurice Duplessis (Montréal — twenty residential condos, 984–1,330 sq ft).[1]
Previously completed and successfully exited developments include projects in Griffintown (Montréal), Décarie (Montréal), Ville-Marie (Montréal), Saint-Léonard, Vaudreuil-Dorion, Laval and Saint-Hyacinthe.[1]
What we buy
Well-located commercial and industrial assets with durable tenancy, plus a residential book where the building, the street, and the operator are all worth owning. We pass on more than we buy.
Underwriting is conservative on rent, generous on capex, and indifferent to short-term cap-rate noise. We are buying the building, not the spread.
How we operate
Buildings are managed for the next twenty years, not the next quarter. Real maintenance budgets, real tenant relationships, patient lease-up. Leverage is moderate and structured to survive a bad cycle without forcing a sale.
The roster of property managers and brokers we work with changes rarely.
Where we are going
Slow, selective additions where the building meets the standard. Active recycling within the book when something stops being worth owning. No targets. No deadlines. Buildings come to us, and we either own them or we don't.
We buy buildings we want to own in twenty years. Then we own them.
Selected public sources cited in this page. Internal operating figures are not linked.
- 01conspropertiesinc.ca · joia.ca
- 02OpenGovCA / Corporations Canada (ISED)
- 03OpenGovCA / Corporations Canada (ISED)
- 04OpenGovCA / Corporations Canada (ISED)
- 05OpenGovCA / Corporations Canada (ISED)
- 06Innovation, Science and Economic Development CanadaUsed to verify federal corporation status of operating entities.
- 07Internal portfolio composition & hold-period policyINTERNALCons Family Holdings — management accountsInternal — not publicly filed.